Fort Wayne Real Estate Agents

FOR IMMEDIATE RELEASE:
This information is provided by the Indiana Association of REALTORS®

“INDIANA REAL ESTATE MARKETS REPORT” FOR AUGUST

Second expanded report shows the average and median sale price of homes remains strong statewide.

(INDIANAPOLIS, IN) – The Indiana Association of REALTORS® (IAR) today released its monthly “Indiana Real Estate Markets Report” as a continuation of its “Indiana is Home” project.  Statewide, the average sale price of homes during August 2010 increased 5.9 percent to $139,804 when compared to August 2009.  The median price increased nearly one percent to $115,000, marking the 10th month of year-over-year increases in median prices during the past 11 months.

Statewide, the number of closed sales during August 2010 decreased 19 percent to 4,699 when compared to August 2009.  The number of pending sales decreased 15.9 percent to 5,060.

“Nationally, the real estate market is adjusting after the expiration of the federal tax credit,” said Karl Berron, Chief Executive Officer.  “Year-over-year comparisons are distorted, especially those of pending and closed sales.  It will be a few months until we’re again comparing apples to apples, at which time we’ll be able to fully assess the impact of the tax credit.

“Meanwhile, we’re pleased to see continued stability in prices,” continued Berron.  “This is good news for both buyers and sellers.  The longer term health of Indiana’s housing markets remains dependent upon sustained job growth.”

Established in May 2009 the “Indiana Real Estate Markets Report” was the first-ever county-by-county comparison of existing single-family home sales in Indiana.  In March 2010, IAR added statistics on other types of existing detached single-family (DSF) home sales – condominiums, duplexes, townhomes, mobile homes, etc. – to the report.

If you have any questions regarding this information, or if you are in need of a REALTOR to buy or sell your home, please give me a call any time for assistance at: 260-443-5747.

Have a great week!

This report contains information compiled by the Indiana Association of REALTORS®, may contain content from sources other than Fort Wayne Area Multiple Listing Service and may not reflect all real estate activity in the market. Statistical data is based on residential property listings and sales from the Indiana counties of Adams, Allen, DeKalb, Huntington, Noble, Wells and Whitley. Powered by 10K Research and Marketing.

Fort Wayne, Indiana 2010 - JULY Housing Supply Outlook

 For Sale By Owner - FSBO: Why YOU Need Me!

In boom times, FSBOs (For Sale By Owners) have a much easier time listing and selling their homes (though they often leave money on the table for lack of experience in pricing and marketing). But these days, FSBOs face an absolute nightmare when it comes to selling their home.

Here are six reasons you might consider using or referring my services as a Licensed REALTOR® with Coldwell Banker the next time you talk to someone on the fence or you yourself are not sure about hiring an REALTOR® agent:

1. I can sell their/your house for more money. The typical FSBO home sold for $153,000, the typical REALTOR®-assisted sold for $211,000 (NAR report, 2009). Enough said on point #1.

2. I do this full-time. Often FSBOs don't recognize how many hours a REALTOR® spends selling a home. FSBO's have no idea how much time they'll have to spend in order to sell their homes themselves.

3. I have the market knowledge to price your home competitively. Setting the right price is listed as the third most difficult problem FSBOs have in selling their own homes, according to a study by NAR. We all want to get top dollar for our homes, and save the commission in the process. This actually happens for someone selling by themselves less than 7% of the time. Why you ask? Because they have no idea what or how to accomplish this goal, I do.

4. I understand how to complete all the contracts, legal forms and disclosure statements required. FSBOs list this as their #1 difficulty in selling their own home. I also am an expert in negotiating, which is the second most downfall for all FSBO's. The transaction is NOT a smooth one. There is a serious side that deals with negotiating, and it is not as simple as cookies and milk on the back deck. If you are not a professional expert negotiator, you will screw it up quicker than you can blink and your deal goes south.....fast!

5. I can be objective about the house, as well as negotiate and overcome buyer objections, YOU can't.......FSBOs never can. Owners have emotional attachments to their homes. Balancing offers and counteroffers, as well as handling the contingencies that usually occur, can be overwhelming and scary for FSBOs.

6. I can help buyers locate the best financing. YI have vast experience in helping buyers locate a lender and select between fixed, adjustable, or balloon mortgages. Can you sit down with a buyer of your house and have this discussion? Are you familiar with lending terms, various mortgage programs available and the lenders that offer them? The complexity of mortgage financing alone is enough to say, "Will, please help me sell my home!"

If you are selling your home FSBO in Northenr Indiana, please call me. I can assist you and show you how to sell it faster and for more money than you can, and save you in commission as well.

Call me any time:  260-443-5747

Have a great week!

Fort Wayne Foreclosure Report: Q3 2010

Report generated on July 23, 2010.

A small number of solds may be entered into the MLS after the report generation date, but will be reflected in the historical comparisons of future reports.

The number of available foreclosures in the Fort Wayne Area Multiple Listing Service is declining as 2010 progresses. The 217 available foreclosure units is down 36.9 percent from last year.

Of all available properties, 6.3 percent are foreclosures.

The heaviest share of these homes can be found in the lower price ranges below $75,000. Sales of homes listed by traditional sellers are increasing as the final days of the tax credit ticked away.

To provide a  detailed look at the foreclosure phenomenon and its effect on our local housing market, we have harnessed the data available in the Fort Wayne Area Multiple Listing Service, Inc. Whenever the field called “REO” is listed as “Yes” we have separated that property from those that don’t contain this marker. This gives us the ability to view the housing market as two distinct segments: foreclosure and traditional.

Note: the "Foreclosure" field was not required before 2007, so the data prior to that point is less reliable.

This report contains information compiled by the Indiana Association of REALTORS®, may contain content from sources other than Fort Wayne Area Multiple Listing Service and may not reflect all real estate activity in the market. Statistical data is based on residential property listings and sales from the Indiana counties of Adams, Allen, DeKalb, Huntington, Noble, Wells and Whitley. Powered by 10K Research and Marketing.

This information provided by the Fort Wayne Association of REALTORS®.
I have re-posted it here for all consumers in Indiana to benefit.
You can see the entire data presentation by CLICKING HERE.

Research tool provided by the Indiana Association of REALTORS® 
**Data obtained from participating Multiple Listing Services (MLSs) and the Broker Listing Cooperative® (BLC®). Powered by 10K Research and Marketing.

The statewide housing market is performing according to different indicators and year-to-date comparisons as well as a historical look.

Established in May 2009 by the Indiana Association of REALTORS® (IAR), the "Indiana Real Estate Markets Report" was the first-ever county-by-county comparison of existing singlefamily home sales in Indiana. In March 2009, IAR added statistics on other types of existing detached single-family (DSF) home sales (condominiums, duplexes, townhomes, mobile homes, etc.) to the report.

This month, the report becomes even more robust.

GENERAL SUMMARY:

Median Sales Price:   $115,000

Average Sales Price: $139,845

% of Original List price Received at Sale: 91.4%

Inventory of Homes Available: 53,844

May findings: 

• Statewide, sales are down 28.8% from the same month last year; pending sales are down 24.6%. Both are related to the expiration of the federal tax credit. The tax credit undoubtedly pulled some sales forward in 2010, distorting year-over-year comparisons in the short term. A longer time horizon will be necessary to get a more complete view of market trends.

• Statewide, median sales prices are down 1.5% from the same month last year, a relatively small decline after nine consecutive months of increases in median prices over the same timeframe in the previous year.

• Statewide, the inventory of homes available is down 11.4% from the same month last year – evidence that the federal tax credit accomplished its mission of clearing inventories, which should further stabilize home prices.

In summary, the Indiana housing market is holding its ground until sustained job market improvement puts it on firmer footing.

If you are looking to BUY a home or SELL your home, I would appreciate an opportinity to assist you. Call me any time!  260-443-5747

Have a great week!

When getting your house ready to sell, let's face it, no one person's home is immaculate! I don't care if you have lived alone, with only one other person, or with a family of 12.....everyone is dirty, our homes get dirty...it's a simple way of life.

The best part about selling your home is preparing it, believe it or not. For years you have "lived" in it, now you can give it that attention to make it a \s charming and inviting as it was for you when you bought it, only now for the next lucky homeowner who will carry on the tradition.

The best and simpleist way to dress your house up is a new coat of paint....everywhere! You will find cob-webs, dirt, grime and even some slime when you paint, but when it's done, it will make your house look almost new again. This "fresh" new state is just what the Dr. orders when showing your home. Even though as humans we are all "dirty" in some way or another, when we go home shopping the smallest amount of dirt in a home can make us weary about buying it.

New paint makes the entire home smell clean and neat, and can bring sellers top dollar. If your home has chipped paint, exposed wood, or surfaces that looks faded, it's time for new paint. If your carpet is worn, dirty, outdated, or an unusual color or style, you might consider replacing it with a basic, neutral color.

Many houses do not sell because of these simple, easy to fix issues. Don't think that buyers have more money than you to freshen up a home. They typically don't. They will simply look elsewhere for a home that needs less work.

Please let me know if you are ready to sell your home and I can help you prepare your home for today's market. I will even come over and help you paint!

Everyone who owns a home has windows....Duh! But not all windows are good for a home, nor will they provide the needed benefits a new BUYER will be looking for. One of the most important issues that I see when taking BUYERS around to look at houses are WINDOWS.

If the home has windows that were old, outdated or have not been properly maintained then the deal dies right then and there. Simply because in order for the BUYER to want to make an offer on the house, they will want all new windows. No one wants to be saddled with that expense, and what happens is the BUYER wants this to be a major "contingency" in their offer, if they even make an offer.

Now, given that each window can cost, on average up-to $550.00 installed you can see this adds up fast. Thus, if you are selling your home and you are not getting any offers, do yourself some diligence and inspect your windows. Go over this simple check-list:

1). Are any of them cracked? if yes, then fix them.

2). Are any of them foggy? If yes, then get them replaced.

3). Are any of them peeling around the edges and caulk coming loose? If yes, then take the time to re-caulk them, it's not that difficult.

4). Are your windows old, outdated, and provide NO insulation factor? If yes, then bite the bullet and get them replaced, all of them, asap. There are GREAT window companies that offer very low if not NO interest programs for entire home window replacement. In addition, companies like Champion Windows offer LIFETIME GUARRANTY and WARRANTY on their windows that transfer with the home to the new owners. Nothing says "Buy me NOW" than a lifetime warranty on windows! Even if little Johnny breaks one with a baseball or your hubby puts a 9-iron through one, they are replaced, FREE!

Single pane, double pane, thermo pane, triple pane windows, plain glass, leaded glass, low "e" glass, wired glass, and tempered glass, too. WOW - There's a lot to know!

Some children have been known to shatter a window or two. Tempered glass can prevent this. Fogged thermal pane windows might need to be replaced if their seals are broken. New argon gas filled windows work well to insulate, while low-e coatings reduce the heat transfer for south facing rooms.

There is a lot of information available on the web, but this site seems to be one of the best ones out there. I will be happy to show you the different types of windows and glass as I show you around homes, so be sure to ask me. If you are looking to sell your home, and you do not have a Licensed REALTOR to represent you, don't do it alone! Call me for a free appointment and allow me to show you how I can assist you in getting your home ready to put on the market, and how my marketing techniques will get it sold faster and for top dollar.

CURRENT COLORADO-FRONT RAGE REAL ESTATE NEWS

76% of all sales were under 250,000 in June.

There are currently 5917 active single family listings on the market compared to 5550 last month, a 6.6% increase. This compared to 5126 listings for June 2009 which is a 15.4% increase.

Sales were up in June 2010, 4.6% compared to June 2009 and 2.8% compared to last month. 19% of the closed transactions last month were distressed sales.  The median single family sales price was up in June 2010, 5.3% from last year's numbers to $205000 but still has not made it back up to 2008 stats at $223,000. The average purchase price was also up for June's stats compared to last year by 5.3% to $237,318.

Record-low interest rates are still available for buyers, and lenders are always going to compete to earn your business. By shopping around for a home mortgage you will always get the best financing deal available. A mortgage, whether it’s a home, or perhaps refinancing, or even a home equity loan is a product just like a lawn mower or a boat, a video game, a motorcyle, etc. so the price and terms are always going to be negotiable. You will always want to compare all the costs involved in obtaining a loan no matter who you speak to. And people, keep this in mind....YOU ARE ALWAYS IN CONTROL!!! If you do NOT like what the one bank is telling you, go elsewhere! They are a dime-a-dozen and just because one is being unreasonable does not mean the others will. 

Shopping, comparing, and negotiating will always save you thousands of dollars!

The US Department of Housing and Urban Development offers a free guide to assist you through the loan process. Please, contact me for a list of preferred mortgage professionals in the Fort Wayne, Indiana area if you are not sure who to speak to. I am always willing to assist any way I can.

There are so many loan programs right now it is mind boggling! If you think you need 20% to put down on a new home forget it! That was old school. YES, it would be great if you could do such a thing, and many can....but there are also many who can't for all sorts of reasons.

Just because you don't have 20% to put down on a home purchase does not mean you are poor, or bad, or delinquint in your money management. With kids soccer, and hockey, and skates, and braces, and cavities, and boat payments, and new plumbing issues, and college loans, and college payments, etc. ( you get the idea here) there is rarely a person with 20% cash reserved for their new home.

Stop thinking 1980's people!!! Today's loan programs are designed to adapt to those who have less than 20% down payment, and the bottom line is this:

1). Are you a good steward with your money?

2). Have you been diligent in paying your debts?

3). Can you afford the monthly payment for the house you want?

4). Is your credit score above 700?

If you can answer YES to these questions, and even if you can't, there is a home and a loan for you!!! Call me to discuss further about how I can help you make that connection from "less than 20% to new home ownership" today!

I look forward to hearing from you.

Have a great day!

This information is taken from REALTOR.com

NOTE of Interest from Will: This is extremely valuable information for everyone looking to BUY or SELL Real Estate. I have posted it here because it has great insight for everyone. I feel this article brings great insight and I am grateful to REALTOR.com for taking the time to write it for everyone to learn from. I am not the author of this article, but merely a messenger of great advice to all of you.

All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR "®" logo on the business card or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to solve it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a transaction in real estate without the professional assistance of a REALTOR®.

But if you're still not convinced of the value of a REALTOR®, here are a dozen more reasons to use one:

1. Your REALTOR® can help you determine your buying power -- that is, your financial reserves plus your borrowing capacity. If you give a REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders -- banks and mortgage companies -- offer many choices for financing a home.

2. Your REALTOR® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.

3. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can direct you to local community information on utilities, zoning, schools, etc. There are two things you'll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

4. Your REALTOR® can help you negotiate. There are many negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Your REALTOR® provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR®, title company or attorney can help you resolve issues that might cause problems at a later date.

6. Your REALTOR® can help you in understanding different financing options and in identifying qualified lenders.

7. Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.

8. When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

9. Your REALTOR® markets your property to other real estate agents and the public. Often, your REALTOR® can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your REALTOR® markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your REALTOR® acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses, etc. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients.

10. Your REALTOR® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR®, you do not have to allow just anyone into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

11. Your REALTOR® can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing -- a lot of possible pitfalls. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

12. Your REALTOR® can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).